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AIS Final Exam vibez Questions 100% Solved What does ERP Stand for? What is ERP? - answer- Enterprise Resource Planning - a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and ...

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  • October 15, 2024
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  • 2024/2025
  • Exam (elaborations)
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  • ais final exam vibez questions 100 solved

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©SIRJOEL EXAM SOLUTIONS
10/11/2024 1:41 PM



AIS Final Exam vibez Questions 100%
Solved


What does ERP Stand for?


What is ERP? - answer✔- Enterprise Resource Planning


- a type of software that organizations use to manage day-to-day business activities such as

accounting, procurement, project management, risk management and compliance, and supply

chain operations


2 Key Advantages of using an ERP (computerized system instead of paper-based) - answer✔1.

Improved efficiency: journal entries are automatically recorded due to the use of real-time

information; reduction in the time needed to process data

2. Controls are built-in to the system to ensure the accuracy of data and reduce errors


What are the 2 ways to modify an ERP system? - answer✔1. ERP Customization


2. ERP Configuration

ERP Customization:

What is it?

, ©SIRJOEL EXAM SOLUTIONS
10/11/2024 1:41 PM


How do you do it? - answer✔- Modification/personalization of the software to meet the needs of

the company.

- Requires customized coding to change the features or functionality of the ERP system

ERP Configuration:

What is it?


Examples? - answer✔- Deciding on the ERP *options or settings* that best fit your business

(optimizing system *components* to meet specific business needs)

- Examples of various configurations include: business units, users roles, chart of accounts, etc

What are system implementers doing for:

a) ERP Customization


b) ERP Configuration - answer✔a) Changing the software itself


b) Merely selecting different options

Affect of upgrades when an ERP system has been:

a) Customized


b) Configured - answer✔a) may have problems with upgrades


b) shouldn't be affected by upgrades


In sage, did we do customization, configuration, or both? - answer✔Configuration only!

, ©SIRJOEL EXAM SOLUTIONS
10/11/2024 1:41 PM


What are the 3 types of data? List and describe. - answer✔1. Control or configuration data:

system and technical functions of the system itself (i.e., the code itself).

2. Master data: "above the line"; the critical business information that supports and classifies the

transactional and analytical data of an enterprise

3. Transaction data: "below the line"; is a business event or transaction that is the result of a

business process


When in sage did we deal with each of the 3 types of data? - answer✔1. Control or configuration

data: NEVER! We never messed with the code

2. Master data: In part 1 - setting up the company where we entered customer, vendor, employee

data

3. Transaction data: in part 2 - when we completed transactions and events


Examples of master data? - answer✔- Customer master data: customer address, customer phone

number, person to contact, shipping methods, terms of payment, etc.

- Vendor master data: vendor address, vendor phone number, etc.

- Employee master data: pay rate. name, address, etc

**Basically all the info we entered in part 1***

a) Master data is relatively __________.

b) Once master data has been entered into the system, it can be accessed by _________.

, ©SIRJOEL EXAM SOLUTIONS
10/11/2024 1:41 PM


c) Master data reduces ___________. - answer✔a) stable (ex: customer address rarely changes)


b) any business process

c) human error


Example of transaction data? - answer✔- a sales order containing info about a sale


Differences between master data and transaction data - answer✔- The value of transaction data

decreases over time. The value of master data does not

- Master data remains stable, transaction data varies from event to event


What is the purpose of a business status center? - answer✔to provide managers with real-time

information


What is real-time information? What does it mean? - answer✔- information that is delivered

immediately after collection

- transaction is immediately reflected in the company's records and can be used to make business

decisions


What are the 4 benefits of real-time information? (example for each) - answer✔1. Increases

business agility and optimization (ex: changing consumer tastes)

2. Allows managers to make better decisions more quickly (ex: when to order inventory)

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